]]>At Schneider Electric, we understand that we must work together today to co-create a more sustainable world. We believe in making a low-carbon economy a reality now, both for businesses, and the world’s most vulnerable populations alike. One in seven people still lacks electricity, and most of them live in rural areas of the developing world.[1] We look to the United Nation’s Sustainable Development Goals for inspiration to do our part in ensuring access to affordable, reliable, sustainable, and modern energy access for all.

Schneider Electric is committed to accelerating the global transition to a low-carbon economy. That’s why we’ll be participating this year’s One Planet Summit — an event under the United Nations Environment Assembly (UNEA) from March 11 – 15 in Nairobi, Kenya. The One Planet coalition is a forum for mobilization and action that brings together state and non-state stakeholders on all continents, on terms specific to each UN initiative. One Planet is an initiative of France, the UN, and the World Bank. Their focus: ACTION.

(2) On behalf of society, by making technology to provide access to energy, and partnering with qualified workforce to make it possible

According to IRENA, the direct job potential for “off-grid” or decentralized renewable energy solutions worldwide is 4.5 million by 2030, including entrepreneurs, technicians, installers, and distributors. In sub-Saharan Africa, between 100,00 – 200,000 clean energy mini-grids have the potential to serve 450 million people.[2] This data shows the opportunity to create business models combining technology and social skills — such as vocational training — that makes a positive impact. Our Access to Energy program aims to provide energy access to 80 million people and train 350,000 people in energy management by 2020. Fortunately, progress in four key areas— government regulation, financing, technology, and training—have now opened the doors to accelerated rural electrification, especially through microgrids. A key driver for accelerating Access to Energy, the United Nations Sustainable Development Goal 7 (SDG 7), serves as a guidepost for ensuring access to affordable, reliable, sustainable and modern energy for all. You can download the paper about how new regulatory, financial and technology can grow access to energy

(3) On behalf of communities, thanks to carbon compensation of the Schneider Electric Paris Marathon

Carbon compensation enables us to provide financial support to a project fighting climate change and improve living conditions. The Schneider Electric Marathon de Paris is the second most popular marathon in the world (after New York), with 58,000 runners. Some 93 percent of event-related CO2 emissions (26,000 tons) come from air transport. All emissions need to be offset for the event to become completely carbon neutral. The use of biomass fuel for cooking has reduced Kenya’s forest cover by almost 10 times in the last 50 years, and associated smoke is a cause of death of women, children, and families. Through marathon-related efforts, Kenyan company Climate Pal has distributed 80,000 low-CO2 output stoves, while creating 130 jobs in distribution and maintenance. This prevents forests in Kenya from disappearing and keeps families from inhaling harmful fumes from existing stoves.

The first regional edition of the One Planet Summit will highlight the unique role of Africa as a global partner. While the continent is responsible for only four percent of global greenhouse gas emissions, 65 percent of the African population is considered to be directly affected by climate change.

At Schneider Electric, our mission is to ensure that Life Is On for everyone, everywhere, at every moment. The time to act is now, and we’re honored to join key global players in taking concrete measures to strengthen #OurImpact on our planet. We look forward to seeing you in Kenya!

]]>https://blog.schneider-electric.com/access-to-energy/2019/03/13/the-one-planet-summit-collective-action-makes-a-positive-impact/feed/0Electric Utilities: Ready for an All Electric World?https://blog.schneider-electric.com/electricity-companies/2019/02/04/electric-utilities-ready-for-an-all-electric-world/
https://blog.schneider-electric.com/electricity-companies/2019/02/04/electric-utilities-ready-for-an-all-electric-world/#commentsMon, 04 Feb 2019 20:14:53 +0000https://blog.schneider-electric.com/?p=54581The year 2018 was a critical one for the global energy transition agenda with global consensus finally emerging for an All Electric world. Consider these key developments in 2018: The... Read more »

]]>The year 2018 was a critical one for the global energy transition agenda with global consensus finally emerging for an All Electric world.

Consider these key developments in 2018:

The “Future is Electric” was one of the new topics of the World Energy Outlook from the International Energy Agency.

Shell unveiled a new scenario (“Sky”) towards an All Electric and decarbonized future.

The European Commission updated its climate policy agenda with key proposals towards a much larger electric and renewable mix of the energy system.

The EPRI (Electric Power Research Institute) in the United States built around the critical benefits of an All Electric world.

Finally, the subject was deliberated upon at the World Economic Forum which concluded recently.

The rationale for an All Electric world is clear and I explained it in a previous blog. Clean electrification and energy efficiency, combined, enable faster decarbonization. It also improves overall system efficiency. The All Electric world is also different: more electric, but also more decentralized as it is powered by distributed renewable energy sources and storage systems.

While global consensus on energy transition takes shape, it is timely for us to review some of the key challenges facing this All Electric world.

Four key challenges to tackle in an All Electric world

Reinventing Base Load

As the load profile evolves over the course of a day, base load corresponds to the minimum power which is permanently required by the system. The invasion of renewable energies on the network is critically changing the base load paradigm, because of their zero-marginal cost of operation. As their share progresses in the overall mix, current ways of pricing base load, as well as the competitiveness of base load units are being challenged.

Flexibility, the new “Gold” of power systems

Current power systems already require a certain degree of flexibility. In some regions, the volume of demand can double over the course of the day. Flexible capacity (particularly peak units) provides for it while transmission and distribution systems are designed to cope with peak demand. The result, however, is the large under-utilization of power assets. This sub-optimal situation is aggravated by the rise of renewable energies, mainly solar (an effect widely known as the “duck” curve). The need for peak management could double in certain regions as a result. In addition, the further penetration of intermittent renewable energies also increases the uncertainty on the balance between generation and demand (up to 4 times the current levels), leading to more standby backup solutions to be deployed (and paid for). Flexibility (or its lack of) will thus play a critical role as renewable energies grow in share of the overall power mix.

Growing concerns on system stability

Current power systems operate with rotating machines synchronized across the network. The inherent inertia of these machines provides for the stability of the system. Renewable energy systems, on the other hand, do not provide for such stability. The responsibility of utilities in ensuring system stability will thus become increasingly complex, as the share of renewable energies grows.

A new CapEx equation

The transition to an All Electric world is causing a significant transfer of CapEx spend — from other forms of energies to power (some sources estimate that as much as 30% of CapEx should shift from oil and gas to power over the next two decades). In addition, while OpEx costs are the primary drivers of conventional generation unit costs, it is CapEx which defines those of renewable (and nuclear) energies. The equation of power markets is thus dramatically evolving, with an order of magnitude of difference in CapEx requirements, fundamentally transforming balance sheets as well as attracting more private funding from new sources (corporate, communities, etc.).

Electric Utilities around the world are working hard to better manage these challenges. On one hand, traditional giants such as Enel — Italy’s largest power company and Europe’s second listed utility for installed generation capacity, are adopting digital solutions to manage their distribution systems most effectively by optimizing voltage profile and enabling peak sharing.

On the other, smaller and nimble utilities such as SICAE Somme & Cambraisis, one of France’s regional electricity companies supplying power to rural communities, are digitizing their operations to, among others, optimize the use of renewable energy and meet network stability requirements.

Three key transformations in the new world of Electric Utilities

These key challenges are dramatically changing the landscape for Electric Utilities. Yet, they create a realm of new opportunities, for those who embrace change.

From commodity supply to availability insurance

As the whole energy system is getting more decentralized, and because there is no marginal cost from renewable energies (therefore weakening the ability to effectively “price” the commodity), the value chain of Electric Utilities will need to evolve away from pure energy delivery, towards ensuring more power availability and flexibility (through services) in a complex interconnected network of decentralized energy resources.

From consumer to prosumer engagement

Most of the transformation will need to happen on the demand side, at the consumers’ location – behind the meter. This is where the greatest potential for flexibility, efficiency and increased resiliency can be tapped. This will lead to new business engagement models between the energy provider, service provider and those who will become prosumers – actively engaged in the management of both their energy consumption and the generation of it. Retail power markets will evolve towards greater granularity – in time, geography, and services – to enable widescale optimization of the system. Customer engagement will therefore rank on top of the agenda for most Electric Utilities going forward.

There is a fast-emerging group of prosumers globally. Montgomery County in Maryland, United States, is one of them. Bordering Washington, D.C., with over 1 million people, the County decided to install microgrids after a devastating storm left a trail of destruction – including over 250,000 residents and 71 county facilities without power for days. Today, the microgrids deliver resilient and efficient energy, without budgetary pressure or operational risk.

From network maintenance to system orchestration

In this new decentralized and intermittent energy system which is fast taking shape, the distribution network will become way more complex. It will be a network of energy highways with traffic (energy) flowing in multiple directions. At the same time, it will be supporting an even more complex set of energy transactions between various actors. The role of utilities will evolve from maintaining the physical network (cable, substations), towards orchestrating both the physical (energy) and virtual (retail, services) worlds.

A bright future lies for those Electric Utilities who will actively embrace the All Electric world journey towards a more electric, decentralized, decarbonized, and digitized energy system. Click here to read more on how utilities around the world are successfully implementing solutions to address the energy challenge.

Further reference: The New World of Utilities, Petit V. Springer Publishing. (2018)

]]>The theme of Globalization 4.0 at the January World Economic Forum (WEF) in Davos brings together the current digital revolution, and the growing integration among people, companies, and governments. Innovation combined with a society that’s mobilized for action is the path to solving global challenges, including climate change.

However, this issue is complex and multi-layered. Because it’s not only about taking steps to cultivate a sustainable environment; progress needs to happen in a way that supports financial growth. A healthy planet with healthy economies is the ultimate goal.

It’s with this end in mind that companies around the world are moving forward, taking a leadership position to help slow global warming. By demonstrating that the bottom line isn’t in conflict with resource efficiency and carbon management, the business community is exhibiting the potential impact and positive effects of social responsibility.

To better understand what is driving corporations to address climate change and the progress made to date, Schneider Electric partnered with Greenbiz Research to survey energy and sustainability professionals from large companies ($100 million or more in annual revenue) around the world.

And the findings show that public sustainability commitments have affected attitudes and actions, and conservation measures such as efficiency improvements and renewable energy are being adopted en masse.

While there are promising advancements, the research also reveals areas for improvement — shifting views of project and program financing, better data quality and sharing, and more investment in new technologies. Given the urgency of the overarching problem, these are issues that need urgent attention.

Here are four key findings from the research:

Public sustainability commitments are driving action and can accelerate corporate gains

More than half (57 percent) of the companies surveyed have made public sustainability commitments, and setting public goals seems to be driving action. Companies that have made a public commitment use almost all available strategies and technologies at a higher rate, including on- and offsite renewables, combined heat and power, and clean fleet technologies.

Companies located in Europe are twice as likely to make a public commitment than those in North America or Asia-Pacific. And companies that are committing are more driven by brand awareness and environmental concerns than companies that have no public commitment.

Capital for projects is available if there is a demonstrated ROI and executive leadership

Contrary to common perception, capital isn’t the only thing — or even the primary thing — standing in the way of more energy and sustainability projects.

While many companies struggle with making the business case for resource-efficiency and carbon-reduction initiatives, 51 percent of respondents who said they are successful indicated that demonstrated ROI was the key to success. 30 percent said executive leadership. Only 10 percent pointed to available capital.

The research also showed a positive correlation between more data and a successful business case. Ninety percent of respondents who agreed that “departments see all data from other functions or peer groups” also felt they were successful at making business cases and getting funds for projects and programs.

Companies surveyed are generating a lot of energy and sustainability data. Utility bills are the most common source of data with 89% of companies using them, followed by energy management systems at 73% and spreadsheets at 52%. But nearly half feel their data is unreliable, 41 percent feel they don’t have the right tools to manage the flow of information and 40 percent lack the expertise to analyze data.

Only 22 percent of companies share all energy and sustainability data across relevant departments while 21 percent share no data between departments, a clear area for improvement.

Ninety-three percent of respondents are working to be more energy and resource efficient, and renewable energy use is also on the rise, increasing 12 percent compared to the numbers from similar research conducted in 2018. Technologies such as combined heat and power and battery storage have a lower adoption rate but show 11 percent growth year over year.

Overall, the new research reveals promising indicators that companies are making in the fight against climate change. The fourth industrial revolution will bring more data and new technologies, and companies need to ensure they have the right tools and expertise to navigate this landscape. Opportunities to improve include:

Provide access to good quality energy and sustainability data, aggregated in a cloud-based platform that ensures consistency across the enterprise

Engage corporate leadership to support building business cases for energy and sustainability projects

Make a public commitment to sustainability — whether through an established initiative like RE100 and science-based targets, or by setting company-specific targets

]]>https://blog.schneider-electric.com/sustainability/2019/01/22/new-research-whats-really-driving-corporate-climate-action/feed/0Green for Growth: Why Green Manufacturing is Crucial for a Low-Carbon Futurehttps://blog.schneider-electric.com/energy-management-energy-efficiency/2019/01/22/green-for-growth-why-green-manufacturing-is-crucial-for-a-low-carbon-future/
https://blog.schneider-electric.com/energy-management-energy-efficiency/2019/01/22/green-for-growth-why-green-manufacturing-is-crucial-for-a-low-carbon-future/#commentsTue, 22 Jan 2019 05:01:36 +0000https://blog.schneider-electric.com/?p=53771Climate change is indisputable, as well as its impact on our planet’s invaluable but finite resources. Indeed, this is one of the most pressing paradoxes of our time: How do... Read more »

]]>Climate change is indisputable, as well as its impact on our planet’s invaluable but finite resources. Indeed, this is one of the most pressing paradoxes of our time: How do we strive for industrial growth while also being mindful of the traditional environmental impact of productivity?

We must find the right balance. Everyone feels this urgency. The world is on a fast track to consume four Earths’ worth of resources by 2050.[1] A recent United Nations report also warned that CO2 emissions must be cut nearly in half by 2030 to safeguard the planet from additional threats of climate change.[2] Take note: that is just 10 brief years.

Without a doubt, the time for change is now. Green manufacturing, an emerging industrial trend with an achievable, long-term future for sustainability, addresses these environmental challenges at a systemic level. It answers the call to action.

What is green manufacturing?

In short, green manufacturing is primarily about changing business and manufacturing practices, as well as the mindset of stakeholders, to mitigate the industrial impact of climate change and other environmental concerns. Green is not a hollow word. There are tangible ways to drive sustainable practices both within manufacturing facilities, across the supply chain, and through the customer base.

The Fourth Industrial Revolution and Industrial Internet of Things (IIOT) present new opportunities to unlock process innovations to develop sustainable, environmentally-friendly materials; decarbonize energy; tap digital innovation for doing more with less; and extend the life cycle of goods within a “zero waste to landfill” framework.

What are the results?

Reduced use of natural resources and energy;

A lower carbon footprint worldwide;

Technology advancements that optimize efficiency, resiliency, and sustainability across the full manufacturing life cycle, including the supply chain; and

The building of a strong foundation for a global circular economy.

Develop new materials

There is significant potential to substitute carbon-intensive materials for less carbon-intensive ones. In the buildings sector at large, for example, it is possible to use timber or pozzolan-based concrete instead of Portland cement to mitigate pollution. It also is possible to improve materials processing systems. For instance, in addition to using greener electronic materials such as innovative bio materials, electronic companies now can incorporate green packaging. A case in point is wheat straw packaging, which can lead to a 40% saving in energy and a 90% reduction in water required for production.[3]

Companies can — and should — adopt eco-labeling to let consumers and end-users know where they stand. In Schneider Electric’s case, we use a Green label and tool for transparency on regulatory compliance, product environmental profiles, and end-of-product-life instructions. And in the coming years across manufacturing segments, look for blockchain advancements to improve green traceability.

Decarbonize energy

The huge payoff of a green manufacturing posture is energy savings. Here, environmental and business benefits go hand in hand. We see a bright future for decarbonizing energy. The latest Energy Transitions Commission (ETC) report “Mission Possible” declares that reaching net-zero CO2 emissions by mid-century is a very real vision. This goal largely can be achieved by the decarbonization of power and the electrification of processes. The cost of decarbonization also can be reduced significantly by constraining demand growth for carbon-intensive transport (through greater logistics efficiency and modal shift).4

With digitized process innovation, even energy-demanding industries such as concrete production can push toward more efficient, climate-friendly practices. China National Building Materials Group is a model in this regard, cutting energy use by 10 percent.

Deliver digital innovation

Thanks to IIoT technology and the development of smart connected devices, manufacturers can prioritize resource efficiency projects alongside productivity goals. Connected assets throughout a facility can yield insights into real-time and historical energy use, enabling industrial enterprises to streamline energy and resources from a bottom-line perspective. And when energy is among a company’s top expenses, this view of it is critical.

Producing high-performance materials at Saint-Gobain’s plants, for example, requires massive amounts of power. Through digital innovation, Saint-Gobain has a realistic goal of curbing energy use and, in turn, cutting carbon emissions by 20 percent by 2025. Green growth is possible.

To do our part for the global resources landscape, Schneider Electric implements solutions across the life cycle of our own products to improve usage and extend their life. Schneider’s Smart Factory Program applies our own EcoStruxure solutions across our global supply chain to drive both operational and energy efficiencies. These offers also enable us to quantify the CO2 emissions of our clients to further reduce global emissions. numbers. Our aim is to avoid the release of 100 million tons of CO2 emissions between 2018-2020.

Drive a circular economy

But make no mistake: green manufacturing is about more than leveraging high-tech materials production and pushing for energy-efficient practices. It requires a fundamental change in the journey of goods. We know the traditional manufacturing journey is linear: a straight path from cradle to landfill in which products are made, used, and thrown away. Sometimes, they are never even brought to market. It’s time to reshape the status quo.

The green manufacturing journey, by contrast, is circular. It moves beyond the 3R approach of “reduce, reuse, recycle” toward a 5R approach: “repair, reuse, refurbish, re-manufacture, and recycle” thereby driving an optimized usage of the resources and an extended life of products. Achieving “zero waste to landfill” is possible.

Schneider itself has committed to recovering 100 percent of our industrial waste at our 200 manufacturing sites by 2030. In addition to the environmental payoff, our circular business models have also resulted in 12 percent circular revenues and continued growth. And Whirlpool, a global appliance manufacturer, is on target to realize a three-year savings of $1 million through enhanced recycling practices.

Circular economy system diagram. Image: Ellen MacArthur Foundation

Collaborating for the greater good

When it comes to making meaningful change, we all are in it together. An extended enterprise approach is essential. We can look to Shanghai as a model here. Aside from businesses, Shanghai is bringing together government and educational stakeholders to advance green manufacturing as a municipal priority.

Shanghai is pursuing a strategic combination of R&D investments, partnerships with universities, local and multi-national company collaborations, and innovation hubs to set ardent sustainability targets and — more important — take collaborative steps to achieve them. Shanghai also offers a deep talent pool, municipal commitment to green growth, private and public infrastructure for innovation ecosystems, and a strong foundation to develop next-era, sustainable manufacturing excellence. These measures have rapidly transformed the city into a green manufacturing hub we all can look to as a model.

Adapting for the future

Let me be clear: green manufacturing is simply good business. It offers revolutionary advances in productivity and efficiency without the downsides of waste or pollution. Economic growth can and must be decoupled from environmental degradation. The true power of green manufacturing will reveal itself when the entire industry begins to detach one from the other, thus accelerating the planet toward a low-carbon reality. This green mission is possible.

[3] World Economic Forum White Paper, “Driving the Sustainability of Production Systems with Fourth Industrial Revolution Innovation,” January 2018, http://www3.weforum.org/docs/WEF_39558_White_Paper_Driving_the_Sustainability_of_Production_Systems_4IR.pdf

]]>https://blog.schneider-electric.com/energy-management-energy-efficiency/2019/01/22/green-for-growth-why-green-manufacturing-is-crucial-for-a-low-carbon-future/feed/1Advanced Smart Grid Solutions at the Core of Island Sustainability Projectshttps://blog.schneider-electric.com/electricity-companies/2018/12/10/advanced-smart-grid-solutions-at-the-core-of-island-sustainability-projects/
https://blog.schneider-electric.com/electricity-companies/2018/12/10/advanced-smart-grid-solutions-at-the-core-of-island-sustainability-projects/#respondMon, 10 Dec 2018 15:25:42 +0000https://blog.schneider-electric.com/?p=53263To face climate change, several green island projects are taking place across the globe. Island residents want to be part of a more efficient and sustainable world. To support ecological transition and help stop global warming, electric utilities who supply islands... Read more »

]]>To face climate change, several green island projects are taking place across the globe. Island residents want to be part of a more efficient and sustainable world. To support ecological transition and help stop global warming, electric utilities who supply islands play a key role. They need to implement smart grid solutions for improved and more sustainable energy networks.

Many islands are dependent on imported fuel oil. They must grapple with increasing electricity costs and reliability issues in part because they are isolated, and they don’t benefit from economies of scale. Also, during bad weather or rough seas, diesel shipments are sometimes stopped, and island residents stay without power. Shipping costs are high, and the risk of a serious environmental disaster is real.

Besides, these fossil fuels (coal, natural gas and oil) which are burned to generate power, seriously impact our health and environment. We all know that when the fuels are burned, they emit toxins and global-warming emissions, which impact climate change. Even the waste products are hazardous to public health and the environment. The consequences are sometimes easy to see, such as air and water pollution and land degradation, and sometimes less obvious, such as the costs of asthma and cancer, or the impacts of sea level rise.

Because islands, which are probably the first to be affected by climate change, often hold promise with respect to renewables, many green initiatives are blooming in such locations.

Electric utilities need to fully support this transition to resilient, low carbon projects. Innovative solutions about energy supply are essential to help island inhabitants become green. One of these involves the development of a smart electricity grid. It’s often the key for a successful transition.

Smart grid is not a buzz-word. Efficient smart grid solutions can enable the implementation of advanced monitoring, control, and automation functions, and apply cutting-edge communication technology for local and remote operations. So, power blackouts are minimized, grid performance is optimized and operating costs are reduced. Far more significant, smart, digital grid technologies increase the penetration of renewables in the grid, which is essential to turn islands into fossil fuel-free territories.

With this kind of high-level integrated architecture, islands can rely on a green electrical grid. They can reach their low-carbon objectives and stop contributing to global warming.

]]>https://blog.schneider-electric.com/electricity-companies/2018/12/10/advanced-smart-grid-solutions-at-the-core-of-island-sustainability-projects/feed/0The Decisions We Make Today are Critical to Ensuring a Sustainable World Tomorrowhttps://blog.schneider-electric.com/sustainability/2018/12/06/the-decisions-we-make-today-are-critical-to-ensuring-a-sustainable-world-tomorrow/
https://blog.schneider-electric.com/sustainability/2018/12/06/the-decisions-we-make-today-are-critical-to-ensuring-a-sustainable-world-tomorrow/#respondThu, 06 Dec 2018 06:00:49 +0000https://blog.schneider-electric.com/?p=53197The urgency of the climate crisis is a daily reminder that we must take action. Keep in mind that August 1 marked 2018’s Earth Overshoot Day, the day by which... Read more »

]]>The urgency of the climate crisis is a daily reminder that we must take action. Keep in mind that August 1 marked 2018’s Earth Overshoot Day, the day by which humanity has consumed more resources than could be regenerated by our planet in one year.

The need for stronger action

The major players – nations, NGOs, and businesses – have not been idle. Three years ago, the Paris climate agreement gave us a better view of the issues. At that meeting we agreed that it’s essential to limit the increase in global temperature to less than 2°C, compared to the pre-industrial level, if we want to avoid a major ecological disaster.

That’s why COP24 is expected to see a push for countries to adopt even more ambitious goals, limiting global warming to 1.5°C. This would require “rapid and far-reaching” transitions in land, energy, industry, buildings, transport, and cities. By 2013, global net human-caused emissions of carbon dioxide (CO2) would need to fall by about 45 percent from 2010 levels, reaching ‘net zero’ around 2050.

Using today’s technology for a better tomorrow

At Schneider, we believe that sustainability and innovation make the fight against climate change technologically possible today. And we know they can be an engine of economic growth and social inclusion. That’s why we’ve challenged ourselves and our network to rethink the future and achieve the 2030 Sustainable Development Goals, covering economic growth, social inclusion, and environmental protection. With the Schneider Sustainability Impact, we’re tracking our progress in a quarterly basis.

We signed the Science Based Targets initiative in 2016 to reduce our emissions, and we are also helping our customers adopt ambitious targets that spur innovation as well as profitability. Businesses have long recognized the need to decarbonize operations through setting GHG emission reduction targets, but these goals are typically short-term and incremental in nature – usually based on past performance or regulatory requirements. Science Based Targets (SBTs) are far more ambitious and go beyond current legislation.

Businesses are also concerned about sustaining their operations in a world with finite resources. A recent survey of Schneider Electric clients indicates that 82% take sustainability and resource availability into consideration in their decision-making.

The good news is that we have solutions available now. Together with Global Footprint Network, Schneider estimates that commercial technologies for buildings, industrial processes, and electricity production alone could move the date of Earth Overshoot Day at least 21 days in the right direction.

Today, around 50% of our solutions (via EcoStruxure) are connectable, helping our customers all over the world to make the most of their electricity while reducing their costs and carbon footprints. By 2020, we aim to avoid 100,000 million metric tons of CO2 on behalf of our customers, thanks to such technologies.

For COP24, we are launching an e-book to demonstrate the many possibilities for business to embrace more ambitious goals while building a business case.

Access to Energy…

Nevertheless, the fight against climate change will not be effective if we don’t take into account the needs of the 2.3 billion people with poor access to energy. Energy poverty is a global issue – affecting an estimated 11% of Europe, for example – and combatting it requires a global mindset. That’s why Schneider Electric is actively promoting sustainable energy access everywhere.

In committing to achieving carbon neutrality by 2030, one of our strategic ambitions is to quadruple the number of people gaining access to energy through the aid of our solutions. In other words, we’re talking about roughly 80 million people with access to energy gained since 2009, when the program was created.

…and education

However, these solutions will only be sustainable if they include the training of future players in the new electric world – a more decarbonized, decentralized, and digital world. These future professionals will be able to respond to the challenges of urbanization, industrialization, and digitization. Solutions are ready to help provide clean, reliable electricity to at least three-quarters of the population living in a state of energy poverty, but there just aren’t enough entrepreneurs or trained workers to deliver these solutions.

Schneider’s Access to Energy program has already helped train 200,000 underprivileged people globally. The goal to be achieved by 2020 is to train 350,000 people trained in energy management worldwide.

By partnering with Power for All, an international NGO, on their #poweringjobs campaign we will contribute to this goal. The #poweringjobs campaign brings together large and small companies, multilateral agencies, trade associations, research institutions, and civil society organizations, all with the intent to elevate skills and trainings, and to ensure universal access to electricity for one billion people.

As our CEO, Jean-Pascal Tricoire, often says: “When it comes to climate change, I’m neither an optimist nor a pessimist. I’m an activist.” And so are we! As long as we continue to take responsible, innovative action, we can ensure a more sustainable world.

]]>https://blog.schneider-electric.com/sustainability/2018/12/06/the-decisions-we-make-today-are-critical-to-ensuring-a-sustainable-world-tomorrow/feed/0The Fight Against Climate Change Makes Good Business Sensehttps://blog.schneider-electric.com/sustainability/2018/12/05/the-fight-against-climate-change-makes-good-business-sense/
https://blog.schneider-electric.com/sustainability/2018/12/05/the-fight-against-climate-change-makes-good-business-sense/#respondWed, 05 Dec 2018 19:42:06 +0000https://blog.schneider-electric.com/?p=53193At the close of 2017, Schneider Electric began a new phase of its energy transition by joining RE100 and committing to source 100% of electricity from renewables by 2030. Our... Read more »

]]>At the close of 2017, Schneider Electric began a new phase of its energy transition by joining RE100 and committing to source 100% of electricity from renewables by 2030. Our intermediary target is to reach 80% of renewable electricity supply by 2020, up from 2% in 2017.

This is proof that companies can be ambitious and aggressive in leading the way in the energy transition.

Shaping the future

We see many benefits from this commitment. First and foremost, going green is deeply aligned with our strategy. The buildings, data centers, industry and infrastructure markets are responsible for 70% of the world’s energy consumption, and show immediate potential for energy efficiency (82% in buildings and 79% in infrastructure) and for renewables. We want to be a corporate actor shaping the future energy landscape, our own sites acting as “Prosumers” in the electricity grid. At Schneider, we believe that this type of innovation is technologically possible today.

Second, renewable sourcing is an important pillar of our sustainability strategy, and goes hand in hand with the Schneider Energy Action, an energy efficiency program we launched over 10 years ago. Global energy demand is expected to expand by a factor of 1.5 over the next 40 years, driven by increased digitization, urbanization, and industrialization, therefore accelerating the need for efficiency and renewable energy. Our ambition is to drastically cut CO2 emissions from our operations, following a 2°C trajectory in line with Science-Based Targets.

Sustainability is business

The third benefit is that this just makes good business sense. Renewable supply enables us in many cases to deliver savings on our electricity costs. For instance, in China, our solar rooftop deliver 10% savings compared to the electricity grid. It’s also a way to diversify our energy supply risks, and reduce our exposure to the volatility of market prices. Finally, in some developing countries, microgrid technologies, coupled with renewables, can enable us to secure our power supply and reduce downtime risks.

And fourth, because we want to demonstrate the value added by our own technologies and solutions, by showcasing our IoT-enabled EcoStruxure architecture in our own sites. We install Schneider connected inverters, MCCBs and transformers to connect onsite solar panels to the grid, and use our energy and microgrid software to manage energy production and consumption.

We also leverage the expertise of ESS (Energy and Sustainability Services) consulting teams to deliver this transformation: we join hands on all topics, from designing new onsite solar rooftops, to sourcing renewable certificates, green tariffs and power purchase agreements (PPA). Like with many other companies, ESS teams act as our strategic partner to deliver our renewable ambitions, helping us leverage opportunities in all countries as they arise.

A transformative commitment

Within a few months, our 100% renewable commitment has already deeply transformed our electricity sourcing strategy. To reach our target, we will leverage 4 complementary tools: green tariffs, renewable certificates, power purchase agreements and onsite generation. National legislations and renewable markets differ, so to succeed it is critical to be proactive and flexible, leveraging each tool at the right time and in the right country. Environment, procurement and business teams are joining hands to capture these opportunities, with the support of ESS teams.

We are very proud to celebrate impressive success stories appearing in all geographies. In Q3 2018, our renewable electricity mix has reached 25%. In China, for instance, we have commissioned six new solar onsite capacities since the beginning of 2018 and these are expected to produce over 2,000 MWh of renewable electricity per year!

]]>Why do microgrids become a hot topic when talking about natural disasters’ impacts and possible solutions? In an increasingly connected society, the economic impact of extreme weather and associated power outages has escalated rapidly. The National Oceanic and Atmospheric Administration estimates that 2017 was the costliest year on record, with 16 different disasters collectively costing the United States more than $300 billion.

As government officials and policy stakeholders grapple with how to respond to this unprecedented economic and environmental impact, voices have emerged in support of a strategy that emphasizes proactive investments in resilience over reactionary response. In fact, the director of government affairs at the World Resources Institute, Christina DeConcini, recently told the New York Times that the federal government is not adapting to the risks posed by climate change; spending too many resources on rebuilding in regions affected by extreme weather, when instead, they should be building resilience against disasters proactively.

Microgrids have proven to be a viable option to strengthen the electrical grid and serve communities when disaster strikes. Rooted in IoT, microgrids can especially have impact on communities where infrastructure is lacking – or nonexistent – by allowing the creation of power grids with a customized energy infrastructure based on the community’s needs. And, for economies like the United States’ – where electrical infrastructure is in place but aging – new technologies connected by microgrids can transform legacy infrastructure into a resilient power grid that offers reliable access to energy, even when extreme weather hits. Furthermore, since most modern microgrids embrace renewable energy and improve flexibility, they provide value to both consumers and the grid between storms in the form of low-cost clean energy and load management.

By establishing an energy system that is resilient, reliable, green, predictable, and digital, we remove the barriers from all our critical systems and enable our businesses and communities to reach their full potential. Microgrid adoption is a decision we can’t afford to pass on as we fortify our future for the new energy landscape.

Historically, energy resilience has been achieved through efficiency, diversity, and redundancy. While effective, this approach can be highly intrusive and capital intensive. As a result of aging electrical infrastructure, new stresses from the global economy, and the advent of new technologies, the grid has become strained and unable to keep pace with the increased energy demands in today’s age. Through cloud-connected software platforms, analytics and decentralized control, we can perform minimally invasive upgrades to infrastructure to help power systems operate much more reflexively. “Smarts not Parts” is now driving resilience, and it is imperative that we fortify our energy infrastructure to prepare for future extreme weather events and power outages that place our well-being at risk.

As visibility of how microgrids can supplement current power infrastructure increases, the conversation around how to implement microgrids – and pay for them – has naturally followed. Energy-as-a-Service (EaaS) is a business model that is disrupting the space, empowering consumers to embrace microgrids across North America. EaaS enables consumers and communities to solve for energy resilience, sustainability, and cost that is tailored to their unique objectives without requiring them to operate a utility or break their budget.

For example, communities that need to significantly upgrade existing electrical infrastructure while configuring their system to integrate renewable, on-site distributed energy can now do so without the lingering concern of surpassing their energy or capital construction budget. This allows end-users to be more creative and strategic with the way that they manage their energy. Furthermore, EaaS allows consumers to transfer technical, regulatory, and operational risks to counterparts that are more prepared to mitigate them without giving up governance rights.

The journey to better resilience in the face of the increasingly severe impact of climate change requires us to think differently about energy. Software, analytics, and the decentralized control of digitized equipment helps make the most of the physical infrastructure that we have in place, achieving resilience while minimizing redundancy. Innovative business models like EaaS unlock the ability to bring that technology to bear today – before we feel the impact of the next storm.

]]>https://blog.schneider-electric.com/energy-management-energy-efficiency/2018/12/03/enhancing-energy-resilience-reducing-risk-through-a-microgrid-approach/feed/0Self-consumption, a way to increase the ROI of your residential solar installationhttps://blog.schneider-electric.com/residential/2018/11/28/self-consumption-a-way-to-increase-the-roi-of-your-residential-solar-installation/
https://blog.schneider-electric.com/residential/2018/11/28/self-consumption-a-way-to-increase-the-roi-of-your-residential-solar-installation/#respondWed, 28 Nov 2018 14:00:39 +0000https://blog.schneider-electric.com/?p=52925Photovoltaic (PV) energy offers the quintessential picture of self-sufficiency: A home with solar panels harvesting the energy of the sun to supply all of its own electrical needs. And yet,... Read more »

]]>Photovoltaic (PV) energy offers the quintessential picture of self-sufficiency: A home with solar panels harvesting the energy of the sun to supply all of its own electrical needs. And yet, while that is a wonderful ideal, the situation in reality turns out to be not quite that straightforward.

The reason is simple: The demand for electricity typically doesn’t coincide with the electricity production rates offered by solar panels. This mismatch occurs for a variety of reasons, including weather, demand patterns, and so on.

So, what’s a person to do?

Fortunately, technology provides some easy-to-adopt answers for those who are opting to self-consume PV electricity.

Demand management to the rescue

Self-consumption is the model promoted and supported today by a growing number of countries for various reasons. However, PV electrical production varies throughout the daylight hours, based on available sunlight, but doesn’t ordinarily coincide with household demand. Thus, the typical system is rarely producing just enough electricity to meet the instantaneous demand. Rather, it routinely is overproducing, relative to demand, at midday and underproducing at night.

For the producer/consumer, or prosumer, who wants to maximize the utilization of their PV energy, several strategies are available to make use of the excess PV electricity during periods of overproduction.

Inject excess PV energy into the grid.

Use a storage system to store the excess.

Manage loads to operate during periods of high PV production.

Strategies for load management, the third option, are the subject of a new white paper available from Schneider Electric. In it, the authors explain several approaches to load management in the context of residential applications that are proving to be effective in the self-consumption of PV electricity.

Managing loads that can be shifted

Not all electrical loads can be shifted. Uses like lighting, cooking, and food preservation are not something that is easily shifted to another time of day. However, many energy-intensive activities such as heat pump, charging electric vehicles, heating water, and running pumps associated with pools can be set to operate during times of peak PV availability or otherwise managed with success.

The paper explores three specific types of load management strategies.

On/Off load management strategies

Sometimes small changes in regularly scheduled energy usage activities can yield significant improvements in aligning usage with PV availability. For example, delaying an early morning load cycle until midday can make the difference between using power from the grid and self-consuming PV electricity.

Setpoint strategy

This somewhat more sophisticated approach follows the on/off strategy but only initiates demand if the PV power available at the time is actually sufficient to meet the load. Otherwise, activation of the demand is delayed.

Dimmer strategy

This strategy shifts the timing of dimmable load and controls its power consumption to use only the PV production.

Hypothetical case studies

Beyond describing these common approaches, the paper presents several examples of how these strategies can affect electricity demand and use, and the economic implications of effective demand management. Various technologies are also discussed that can help in the process of managing the use of electricity in domestic applications.

]]>The world is making meaningful progress in building the “new energy” workforce needed to end energy poverty. Schneider Electric can proudly say that we’ve already helped train almost 20% of the 1 million solar technicians we’ve pledged to train by 2025.

Yet, we must also acknowledge that there is a growing gap in the human capital — workers and entrepreneurs — needed to deliver electricity to the 1 billion people globally without it, two-thirds of whom live in Sub-Saharan Africa.

It’s estimated that scaling off-grid renewables can create 4.5 million jobs by 2030. But of the 10.3 million renewable energy jobs in the world today, just 76,000 are in Africa. In other words, less than 1% of the jobs worldwide are in the region that most urgently needs them. The same trend holds true for energy-poor communities in Asia and elsewhere.

That is why Schneider Electric is supporting the launch of the #PoweringJobs campaign, a global effort to ensure the creation of an energy access workforce.

#PoweringJobs brings together companies large and small, multilateral agencies, trade associations, research institutes and civil society organizations, with the goal of moving skills and training from the margins to the center of international and national policy. The main message: investing in energy access is an opportunity to employ millions of women and youth, not just another line item in an annual national budget.

The campaign, which will be coordinated by Power for All, an international NGO, launched on October 31 during the International Off-Grid Renewable Energy Conference (IOREC) in Singapore, at an event co-hosted by IRENA and Power for All called “Closing the Human Capital Gap in Energy Access.”

#PoweringJobs is currently conducting the first comprehensive jobs survey of the energy access sector, with an initial focus on India, Kenya and Nigeria. The goal is to conduct an annual survey that eventually covers all countries facing an energy access challenge. The survey will inform a report, and related calls to action, that will be launched in the first part of 2019.

Next year is a pivotal one for the topic of jobs and training in the global development agenda. Sustainable Development Goal (SDG) 8, focused on ensuring decent work and economic growth for all by 2030, is one of the SDGs which will receive high-level international attention, and therefore an opportunity to put energy access skills in the spotlight.

The time is now to invest in #PoweringJobs, and Schneider Electric is redoubling its commitment to do so.

]]>https://blog.schneider-electric.com/access-to-energy/2018/10/31/poweringjobs-elevating-energy-access-skills/feed/1Five Sustainable Strategies Every CEO Should Pursuehttps://blog.schneider-electric.com/sustainability/2018/10/26/five-sustainable-strategies-every-ceo-should-pursue/
https://blog.schneider-electric.com/sustainability/2018/10/26/five-sustainable-strategies-every-ceo-should-pursue/#respondFri, 26 Oct 2018 18:12:34 +0000https://blog.schneider-electric.com/?p=52353This article originally appeared on CNBC Sustainability is one of the highest priorities on today’s CEO agenda. Climate change is dramatically impacting the planet and creating new business risks. So... Read more »

Sustainability is one of the highest priorities on today’s CEO agenda. Climate change is dramatically impacting the planet and creating new business risks. So how are companies responding to mitigating environmental damage and ensuring long-term resiliency through increased use of digitization?

With lessons from AEG, Entrade, Walmart and WWF, leaders should consider five key strategies:

Strategy 1: Adopt a One Planet Mentality

Companies leading on sustainability recognize that natural resources are finite — we only have one planet. This mindset drives companies to develop innovative ways to manage resources, including new products and services. Ultimately, this increases business flexibility, allows companies to rapidly adapt, and drives sustainable growth.

Circularity

The adoption of circular business practices is one key way in which companies can harness resiliency. By re-evaluating the way resources are consumed, products are made, services are delivered, and waste is managed, companies can reduce expense, future-proof operations, and re-imagine their businesses.

Renewable Energy

Switching to renewable energy can help companies develop sustainable resources. Using renewables reduces expense while achieving environmental goals. IRENA predicts that the cost of clean, carbon-free electricity will be cheaper than fossil fuels, everywhere, by 2020.

Renewables are returning impressive results. Thanks to a wind power purchase agreement (PPA) at its Texas data centre, Hewlett Packard has reached its 2020 operational emissions reduction goal five years early and avoided the annual emission of more than 340,000 tons of carbon dioxide.

Smarter, More Efficient Operations

Doing more with less is possible through cyber-physical systems, the Internet of Things (IoT), and cloud computing, which create efficiencies and smarter operations.

Entrade is a pioneering company that turns waste into sustainable energy. The firm uses Schneider Electric’s EcoStruxure, an IoT solution that allows greater connectivity and automation. Streamlined operations in the firm’s 250 Liverpool-based plants are now run remotely, and more efficiently, from the head office in Germany.

“IoT is the foundation of our business model,” says Julian Ulhig, CEO Entrade. “Now I’m able to run an entire global utility from my mobile phone, and this would not be possible without EcoStruxure.”

Strategy 2: Drive a Sustainable Supply Chain

Working toward greener suppliers is a key target for businesses. According to CDP, eighty percent of a businesses’ carbon footprint sits in the supply chain.

Walmart recently announced Project Gigaton, an approved science-based target (SBT) aimed at avoiding a gigaton of emissions from its global value chain by 2030. That’s the equivalent of taking more than 211 million passenger vehicles off U.S. roads for an entire year.

Sustainable supply chain initiatives include efficiency measures, greener transportation, renewable and clean technologies, and digital tools that give end-to-end supply chain visibility. Carter Roberts, president and CEO of World Wildlife Fund recently said: “Supply chains are the new frontier of sustainability … as more companies follow in the footsteps of Walmart and their suppliers, we can achieve the critical mass needed to address climate change.”

Schneider Electric works with sectors that account for majority of global energy consumption and CO2 emissions. The company has committed to ensure its own products and solutions help reduce both energy use and CO2 emissions — from design to manufacturing to shipping and deployment to product end-of-life.

Strategy 3: Adopt Transparency

Consumers are choosing responsible brands. 66 percent of them will pay a premium for a sustainable product. It’s imperative that companies communicate transparently about the footprint of their brands and products to build reputational and competitive benefits.

This transparency includes openly committing to reducing and disclosing a company’s environmental impact through indices. Schneider Electric’s sustainability commitment, known as Schneider Sustainability Impact, is tracked quarterly and audited by a third party. It provides a holistic view of sustainability and the promises to partners, customers, and the world.

Digitization also supports transparency and disclosure. Solutions like Schneider Electric’s EcoStruxure Resource Advisor use multiple data streams to create meaningful, digestible, and reportable dashboards. This data can be shared with stakeholders and inform decisions that are profitable and planet-compatible.

Strategy 4: Forge Innovative Partnerships

The rise of pre-competitive organizations and technology-enabled community platforms demonstrates the need for industry leaders to collaborate to solve today’s pressing challenges.

An example is the Sustainable Apparel Coalition (SAC). The SAC brings together brands, manufacturers, retailers, and suppliers in footwear and apparel to develop solutions to common challenges. The SAC was responsible for the creation of the Higg Index, an industry-leading assessment tool to measure the impact of apparel and footwear.

Another example is Schneider Electric’s NEO Network. A growing global community of companies buying and developing cleantech solutions, the NEO Network brings together buyers and solution providers to exchange information and accomplish mutually-beneficial goals. Members obtain exclusive access to market trends, project details and pricing information, and clear research to help accelerate decision-making on renewables.

“Though there’s been a dramatic uptake in corporate adoption of renewable energy, the complexity of today’s market hinders many organizations,” says John Hoekstra, VP of sustainability and cleantech services at Schneider Electric. “The growing NEO Network community confirms the need for simplicity, clarity, and collaboration.”

Strategy 5: Use Data and Digitization

“Data is the new oil; it’s a new currency, a new way to monetize and create value in our businesses,” says Emmanuel Lagarrigue, chief strategy officer at Schneider Electric. Data is changing the way companies think about products, technologies, and systems. The result is more sustainable business models, with predictive capabilities.

87 percent of senior business leaders now cite digitization as a priority for their company, the first step to convert processes from reactive to proactive. Digitization delivers rich data which can return profits, resource reductions, and efficiency.

AEG embraced digitization to achieve emissions reductions and increase waste diversion. Thanks to Schneider Electric’s EcoStruxure Resource Advisor, the firm was able to track 53 different data streams across more than 120 venues; reduce emissions by 14 percent and achieve a 63 percent waste diversion rate.

Digitization and sustainability are inextricably linked

As businesses adopt more sustainable models, greener supply chains, and Industry 4.0, the positive impact is clear. Companies that decarbonize and digitize, streamline operations, invest in circularity, and undertake a more transparent, consumer-focused approach will reap long-term productivity and profitability – all while reducing impact on our planet.

Want to embrace the energy transition?

Schneider Electric believes that sustainability should be the ultimate aim of any company in today’s competitive marketplace.

Our mission is to help businesses embrace the energy transition while achieving better operational efficiency. We put ethics and responsibility at the center of our customer, partner, supplier, employee and community interactions.

]]>https://blog.schneider-electric.com/sustainability/2018/10/26/five-sustainable-strategies-every-ceo-should-pursue/feed/0The transition to an all-electric world: so much more than decarbonizationhttps://blog.schneider-electric.com/smart-grid/2018/09/26/transition-all-electric-world-decarbonization/
https://blog.schneider-electric.com/smart-grid/2018/09/26/transition-all-electric-world-decarbonization/#respondWed, 26 Sep 2018 20:34:30 +0000https://blog.schneider-electric.com/?p=51771In my last blog, I described the three reasons which steer the energy world toward a fully electric one: a unique decarbonization potential, with vast easily accessible reserves around the... Read more »

]]>In my last blog, I described the three reasons which steer the energy world toward a fully electric one: a unique decarbonization potential, with vast easily accessible reserves around the world, powering a much more efficient energy system. It is time to develop the latter of these assertions and evaluate some of its potential consequences.

Doubling the efficiency of the energy system, at reach

The overall efficiency of the energy system is still a barely discussed concept today. Yet, the energy system we currently live in, which has brought massive benefits to our world’s economic development, leading our world to the spectacle of global industrialization, as well as three times more energy consumed per capita over the course of the 20th century, is largely inefficient. It is its main weakness. Most of the waste, which ends up in air pollution, occurs in two primary areas:

One that is well known, the tremendous losses associated with the conventional production of electricity. Most coal or natural gas-based power plants have yields which barely reach 40-50%. This means that for each unit of electricity produced, two to three units of primary fuel are required.

The second one, much less obvious, goes with the inherent yield of some of the ways we use the final energy available. Traditional combustion engines, which propel the vast majority of our means of transportation, barely achieve 30% of yield, compared to 90% for electric engines. Two-thirds of the energy in the tank is wasted. Fossil-fuel based heating systems (furnaces) have also proven to achieve much lower efficiency levels than electric-based ones. Today’s electric heat pumps achieve yields that are three to four times higher than traditional fossil-based systems.

Solar panels and wind turbines in field

The transition to an all-electric renewable-based energy system thus has the potential to eliminate this waste. Most of the current aggressive scenarios on electrification estimate a maximum technical potential of around 60% of electricity share in the mix, with current technologies. Should this ratio be reached, that’s already doubling the efficiency of the overall energy system. In other words, we would use much less primary resources to enable the same amount of final useful energy.

The Electric Power Research Institute (EPRI) has recently developed a similar scenario for the US and estimated that accelerated clean electrification could yield a 32% reduction in energy consumption (as well as a 67% drop in greenhouse gas emissions). Textbook.

The overall cost of energy to drop significantly

If we consume less primary energy for the same service, then costs should fall, right? Unfortunately, it’s not that obvious. It actually depends on two things: how expensive it would be to build (CapEx) an all-electric generation system (with solar panels and storage everywhere), compared to the current system we live in (with its offshore platforms, gas pipelines, and large coal-based power plants). And how expensive it would be to operate and maintain it over time (OpEx).

There have been limited studies to date on this critical topic. Those which have been made available have generally focused on CapEx, and they estimate that the global transition could be achieved with similar or slightly higher CapEx than a “business as usual” approach. Another way to look at it is also to consider that – as of today – the CapEx of a new unit of electric energy (production only) is, on average, 50% higher than that of oil or natural gas. Yet, this gap is closing rapidly with the sharp decline of solar photovoltaic costs. Latest projections on costs by 2030 suggest that they could be on par with any other form of energy. Since it takes much less electric energy to achieve the same service, then the CapEx equation should quickly break even.

The same applies to OpEx, to an even greater extent. Renewable power generation has extremely low operating costs, three to seven times lower than conventional power generation, and in the range of fossil fuels extraction OpEx today. There again, clean electrification should lead to a significant optimization of OpEx.

A quantified analysis remains to be published, and this blog is nothing more than a pledge to run one. Yet, I estimate that at the very least total costs of energy in a fully transitioned “All-Electric” scenario will break even with a “Business as Usual” scenario. In addition, the significant drop in renewable energy costs and continuous innovation in the field leads me to believe that costs could eventually be much lower. Aggressive assumptions on renewable energy costs evolution suggest that a potential drop in total energy costs as high as 20-30% could be achievable.

While most current scenarios today focus on detailing decarbonization routes which the world struggles to converge on, few to none have articulated the fact that such a transition makes great economic sense on the long-run, and constitutes the opportunity of a century to propel global economic development (because productivity in energy is productivity in business, hence long-term growth).